Record Inflows into Bitcoin as 'Safety'-Seeking Investors Buy the Dip; Ethereum Outflows Double

Investors in funds backed by bitcoin (BTC) appear to be taking advantage of the lower prices, adding close to USD 299m to such funds last week, or the most this year, while ethereum (ETH) outflows more than doubled. 

Timeline of Bitcoin, Ethereum

The markets appear to have been trying very hard to be stabilized at the earliest as the LUNA foundation FUD appears to have eased out. And hence, the crypto space is expected to recover slowly yet steadily. As LFG released a statement documenting its actual holdings, the markets witnessed a sign of relief. Therefore as …

President Nayib Bukkele has announced that financial authorities from 44 countries are meeting this Monday in El Salvador to discuss Bitcoin and other related matters.  President Announces Bitcoin Meeting According to his Twitter announcement, 32 central banks and 12 financial authorities are meeting to discuss matters of financial inclusion, digital economy, banking the unbanked, El Salvador's Bitcoin rollout, and its benefits in the country.

PlanB, the creator of the Stock-to-Flow (S2F) model, says the expected Bitcoin (BTC) price to touch $100k in December 2021 failed because it was already in a bear market since April 2021. Currently, the Bitcoin (BTC) price is creating a bottom as we are witnessing strong pressure in the Bitcoin market.

Bitcoin, the largest cryptocurrency suffered major limelight into extreme fear territory not seen since the COVID-19 crash. The worst trading day came on 12 May, when BTC slumped from just over $30,000 to its lowest price position since late December 2020 at $25,300.

Over the last ten days, the $30K demand zone, which was expected to be a strong support level for reversing any downtrend price movement, was broken to the downside. Now, it acts as a magnetic resistance level in the market.

The Luna Foundation recently released a statement citing the balances on their reserves as the platform's Bitcoin reserves made a huge noise of let. The thread documented how the platform disbursed millions of dollars worth of crypto and eventually failed to stabilize the destabilized assets.   The foundation clearly states the number of BTC and the …

The cryptocurrency sector was founded on both transparency and anonymity. Even Bitcoin's developer used a fictitious name, and the world may never know who was behind one of the most innovative financial inventions ever devised. However, there are many diamonds in the rough among the sea of unknown merchants, much as Satoshi's successes and efforts …

After creating a bullish pattern, the Bitcoin Dominance Rate (BTCD) has broken out from a nearly yearlong descending resistance line. The post Bitcoin Dominance Rate (BTCD) Bounces Sharply After Triple Bottom Pattern appeared first on BeInCrypto.

The whole crypto space was under a catastrophic drop after the Terra (LUNA) token bottomed 99% in just two days where the Blockchain's stablecoin UST depegged leading to the crypto crash. LUNA was created by Terraform Labs with algorithmic stablecoin TerraUSD (UST) in order to maintain its $1 peg. However, the blockchain's UST stablecoin bottomed …

Cryptocurrencies continued to decline on Monday, giving up the gains of deficiencies over the weekend, as regulators continued to patrol. Warnings of risks posed by cryptocurrencies have been reaffirmed by European officials. On Monday, Bitcoin fell 5% to around $29,700 in Asian trade, slipping alongside stocks because of rising interest rates and high inflation worries....